A person has Rs.30 lakhs income from salary from his company. He also receives Rs.25 lakhs for the professional services he lent. Can he still avail presumptive taxation benefit for the 50% of Rs.25 lakhs ? His income from profession is still 25 lakhs while his gross total income is 55 lakhs now.
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194j income + 192 salary income greater than 50 lakhs
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Yes he can opt, Because section 44ADA talks about professional income........
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